What's Happening?
The Chelsea townhouse of the late art dealer Barbara Gladstone has been sold for $13.1 million, surpassing its initial asking price of $11.995 million. The four-story Greek Revival row house, located at 344 West 22nd Street, was listed in June and entered contract just 12 days later. The sale, which was an all-cash deal, resulted from a bidding war among local homeowners, with 18 potential buyers viewing the property on the first day. The townhouse, built in 1841, features five bedrooms, three baths, and two half baths, along with high-end amenities such as a chef's kitchen and a private garden designed by Piet Oudolf. The home was recently renovated by architect Annabelle Selldorf, a friend of Gladstone.
Why It's Important?
This sale highlights the continued demand for luxury real estate in New York City, particularly in the Chelsea neighborhood. The transaction sets a record per square foot for a Chelsea townhouse resale, indicating a robust market for high-end properties. The involvement of renowned architect Annabelle Selldorf and the presence of art by famous artists like Andy Warhol in the home add cultural and historical value to the property. The sale also reflects the legacy of Barbara Gladstone, a significant figure in the art world, whose influence extends beyond her gallery to her personal real estate holdings.
